Coal bed methane is a primary coal seam
gas that is collected from unmined coal seams. These coal seams are then
drilled down into releasing the associated gas which is extracted and can
further be used to generate electricity. CBM can be used as a substitute for
conventional natural gas in a wide variety of consumer and industrial
applications. The porosity of coal bed reservoirs is usually very small,
ranging from 0.1 to 10%. Coal bed methane market is essential in assisting food
production rate thereby meeting the growing population needs. Essar Oil, a coal
bed methane company is currently supplying 1 million cubic metre of the
requisite gas to Matix Fertilizers and Chemicals.
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Industry
Segmentation
Global coal bed methane market has been
segmented based on technology, application, and region.
Based on technology, the market is
classified into Hydraulic Fracturing, Horizontal Drilling, and CO2
sequestration. Hydraulic fracturing which leads the market, owing to the
technological advancements achieved in this technique coupled with its ease of
use and would further complement the coal bed methane market during the
forecast period.
The global coal bed methane market is
further segmented based on application, including residential, industrial
commercial, transportation, and others. Industrial segment of the global coal
bed methane market is estimated to register the highest growth rate during the
forecast period due to the increasing use of coal bed methane as an alternate
source to conventional natural gas.
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Regional
Outlook
Region wise, North America held the
largest market share of the global coal bed methane market in 2017. North
America region has some major players from the oil & gas industry and
growing demand for sustainable fuel in US and Canada. The coal bed methane
market would be mainly driven by creased focus on reducing the reliance on
conventional sources of natural gas. In addition, significant natural gas
production in countries such as India, China, Saudi Arabia, and others would
also have a positive impact on the growth of coal bed methane market during the
forecast period.
Key
Players
The key players of global coal bed methane
market are Essar Oil (India), Reliance Power (India), Halliburton (US), Chevron
(US), BP (UK), Weatherford (US), Arrow Energy (Australia), Blue Energy
(Australia), Conocophillips (US), China United Coalbed Methane Co (China),
Encana Corporation (Canada), Far East Energy Corporation (US), Santos
(Australia), and Nexen Inc. (Canada), among others. (Germany), among others.
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